Luxury home sales have plummeted by 28 percent in the US, with regular market sales also sinking by 19.5 percent as federal interest rates soar and runs rampant. Luxury home sales have seen their biggest decline year-over-year in August since the pandemic brought the housing market to a standstill in 2020, dropping sales by 23.2 percent, according to latest report. The sales have sunk in all the nation's top 50 metro areas, with the largest drops seen in Oakland, , at 63.9 percent; San Jose, California, at 59.6 percent; Miami at 55.5 percent, San Diego at 55.3 percent and Seattle at 52 percent.
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